The American
Hotel & Lodging Association (AHLA), the U.S.
Travel Association the International Franchise Association (IFA) and the
National Restaurant Association joined a group of more than 75 hospitality
groups in sending a letter to Senate Majority Leader Charles Schumer and
Senate Minority Leader Mitch McConnell advocating that the Senate promptly pass
the Tax Relief for American Families and Workers Act (H.R. 7024).
Citing the hospitality
industry’s difficult and incomplete recovery from the COVID-19 pandemic, and
the challenges presented by ever-rising inflation, high operating costs and ongoing
workforce shortages, the combined group of appellants wrote that now is, “a
critical moment for tax policies that support an efficient, productive, and
competitive marketplace.”
The bipartisan
bill passed through the House of Representatives in January, but now needs
approval from the Senate to be passed into law. Leaders from the AHLA, U.S.
Travel, IFA and National Restaurant Association expressed their viewpoints on
the subject in a statement released today.
“This bill would
extend critical tax relief to hotels across the nation, benefiting small
business owners and employees alike,” said AHLA Interim President
& CEO Kevin Carey. “Hoteliers need help navigating the economic
uncertainties created by persistent inflation, a nationwide workforce shortage,
and an aggressive federal regulatory agenda. The Tax Relief for American
Families and Workers Act would provide that help, and on behalf of America’s
nearly 62,500 hotels, we call on the Senate to pass it as soon as possible.”
“Businesses need
certainty to operate, and too often policy proposals disproportionally affect
small businesses,” said IFA’s Senior Vice President of Government
Relations and Public Affairs Mike Layman. “However, this tax package will
provide much-needed relief and predictability that will enable franchised
businesses to reinvest in their employees and better serve their customers –
putting them on a stronger path for growth.”
“The current
limitation of depreciation and amortization and loss of 100% bonus depreciation
for certain expenses penalize a restaurant operator’s investment in their
success by adding to their tax burden,” Sean Kennedy, Executive Vice
President of Public Affairs, National Restaurant Association. “We urge the
Senate to move forward on H.R. 7024 to provide timely tax relief for Main
Street businesses.”
“Pro-growth
policies like these make it easier for travel businesses to reinvest in their
communities and create pathways to prosperity for Americans,” said Tori Emerson
Barnes, Executive Vice President of Public Affairs and Policy at the U.S.
Travel Association. “That’s why we urge the Senate to act as soon as possible
and give the industry these tools to help create a more vibrant and
agile economy.”
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